Eagle Plains Increases Olson Gold Project Area in Northern Saskatchewan
Eagle Plains Increases Olson Gold Project Area in Northern
Saskatchewan
Cranbrook, British Columbia – June 23, 2020: Eagle Plains Resources Ltd. (“EPL”:TSX-V, “Eagle
Plains”) is pleased to announce that 3 additional claims totalling 1,170 hectares have been added to Eagle
Plains’ 100% owned Olson gold property (the “Property”) located 100 km east of La Ronge, northern
Saskatchewan. One of the claims was acquired through a 100% purchase from an unrelated third party.
SKRR Exploration (“SKRR”:TSX -V, “SKRR”) may earn a 75% interest in the 5038ha property by
completing exploration expenditures of $3,000,000, making cash payments of $250,000 and issuing
1,000,000 voting class common shares to EPL over a 4 year period.
As previously announced on June 2, 2020, fieldwork on the Property is underway with a DC resistivity /
IP geophysical survey recently completed and geological field crews currently on the ground.
Additional Claims
The additional 3 claims increase the Olson property to the south in the central and eastern regions. In the
south-central region, the new claim covers a portion of the east -west trending Hartley Shear zone and
covers the same prospective volcanic lithological package as the main Carina / Point gold showing, which
returned assay values up to 9.8 g/t Au from grab samples, located a further 500m to the north-east.
See the Olson project map here.
2020 Work Program Objectives
Phase One fieldwork has been designed to define targets for a Phase Two diamond drilling program, with
planning underway for a Fall, 2020 program. Discovery Geophysics from Saskatoon has completed an 8.3
line-km DC resistivity / IP geophysical survey at the Jena-Juba and Point-Tuscan targets, with preliminary
results delivered to the field crews for follow-up during Phase One. Geological fieldwork will include
detailed prospecting and mapping, infill soil geochemical sampling and channel sampling of trenches.
Qualified Person
Charles C. Downie, P.Geo., a “qualified person” for the purposes of National Instrument 43 -101 -
Standards of Disclosure for Mineral Projects and a director of Eagle Plains, has prepared, reviewed, and
approved the scientific and technical disclosure in the news release.
About Eagle Plains Resources
Based in Cranbrook, B.C., Eagle Plains continues to conduct research, acquire and explore mineral projects
throughout western Canada. The Company is committed to steadily enhancing shareholder value by
advancing our diverse portfolio of projects toward dis covery through collaborative partnerships and
development of a highly experienced technical team. Managements’ current focus is to preserve its
treasury while advancing its most promising exploration projects. In addition, Eagle Plains continues to
seek ou t and secure high -quality, unencumbered projects through research, staking and strategic
acquisitions. Since 2012, Eagle Plains has added to its portfolio a number of new projects exceeding
130,000 ha targeting mainly gold, uranium and base-metals in Saskatchewan, a highly-prospective mining
jurisdiction which was recently recognized by the Fraser Institute as the second best place in the world in
terms of Investment Attractiveness. Throughout the exploration process, our mission is to help maintain
prosperous communities by exploring for and discovering resource opportunities while building lasting
relationships through honest and respectful business practices.
Expenditures from 2011-2018 on Eagle Plains-related projects exceed $20M, the majority of which was
funded by third -party partners. This exploration work resulted in approximately 30,000 m of diamond -
drilling and extensive ground-based exploration work facilitating the advancement of numerous projects
at various stages of development.
On behalf of the Board of Directors
“Tim J. Termuende”
President and CEO
For further information on EPL, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: [email protected] or visit our website at http://www.eagleplains.com
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain
forward-looking statements including but not limited to comments regarding the timing and content of upcoming work
programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward -looking
statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may
differ materially from those currently anticipated in such statements.